Pension Contributions
Under the Pensions Act 2008, the minimum amounts that should be paid into automatic enrolment pension schemes will increase as planned –
Date Effective | Employer Minimum Contribution | Staff Contribution | Total Minimum Contribution |
6th April 2018 to 5th April 2019 | 2% | 3% | 5% |
6th April 2019 onwards | 3% | 5% | 8% |
National Minimum and National Living Wage rates will increase on 1 April 2018
Year | 25 and over | 21 to 24 | 18 to 20 | Under 18 | Apprentice |
April 2017 (current) | £7.50 | £7.05 | £5.60 | £4.05 | £3.50 |
April 2018 | £7.83 | £7.38 | £5.90 | £4.20 | £3.70 |